Indium Software aims to double revenue to Rs 600 cr by FY'24, hire over 1,500 employees

IT firm Indium Software expects to more than double its revenue to Rs 600 crore by the next financial year and hire over 1,500 employees to support growth, it said on Thursday.

The digital engineering company said it has recorded a 78 per cent revenue growth at around Rs 230 crore in 2021-22 on account of strong demand for digital transformation services from clients across industries.

About 75 per cent of the revenue was from the US, with the remaining coming from Europe, Asia, and India, the company said in a statement.

''Given the continued strong demand for digital transformation services and solutions, Indium expects to grow at a CAGR (compound annual growth rate) over 55 percent, targeting Rs 600 crore in revenue, by 2023-24,'' the statement said.

Indium provides application engineering, cloud engineering, data engineering and analytics, digital assurance, low code development, among other services.

''We will continue to accelerate our investments in research and development as well as in partnerships with platform providers such as Mendix, Striim, Databricks, AWS, GCP and Azure.

''We have also been leveraging our digital engineering DNA and niche gaming expertise, to seed investments in emerging opportunities in Web 3.0, blockchain, and metaverse,'' the company's co-founder and CEO Ram Sukumar said.

To fulfil the growing demand, Indium would hire over 1,000 experienced professionals and expand its campus hiring program to onboard more than 500 fresh graduates over the next 12 months, the statement added.

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